Equipment insurance?

[Qhamal]

Hi Everyone,

Just curious if anyone takes out equipment insurance or if your apartment/homeowners insurance takes care of that? I've experienced theft of about $3000 worth of photography equipment (15 years ago) when I lived in Puerto Rico so now that I'm building up my current gear, I'm having some anxiety. Any recommendations, suggestions?

Ron
http://www.beholdingeyes.com

[LoungeLizard]

This has been discussed before - do a search on "insurance". Main downside to a homeowner's type of policy is that it may not cover everything (you've got whatever caps are there for personal property), deductible applies, and most won't cover it if used for business purposes.

I scheduled my equipment (down to the CF cards!) for about $80 a year. No deductibles and includes "mysterious disappearance" - oh, and covers me internationally!

Lot's of comversation on the types of insurance and even some links to some providing commercial coverage.

[KeithAlanK]

The best method by far is to attach a rider to your homeowner/renter's policy where you specify your camera stuff and pay a small extra fee.
This locks them into full coverage with no weasel room, and the price is right.
I pay under $10 a year, and am covered for EVERYTHING that could happen including defective stuff that's past warranty, loss, theft, stupidity, rain, floods, fire, forgetfulness.....no deductible!!
Peace of mind is sweet.

[jeffkohn]

State Farm offers a supplementary policy you can purchase with no deductible and full replacement. My homeowners policy is with Allstate and they don't offer such a policy but I was able to schedule all my camera equipment. Cost is about $10 per $1K of equipment and again it's no deductible and full replacement (had to provide receipts for everything though). Your standard homeowner's policy will cover losses but you have the deductible to contend with plus getting full reimbursement for items you don't have receipts for may be an issue.

These policies won't cover gear used for "professional" use; in that case you'll need to get a separate policy. I think you can get coverage through some of the professional trade assocations.

[jeffkohn]

Keith, if you don't mind my asking who do you have your coverage through. It was my understanding that the one thing not covered by most of these policies is manufacturer's defects in out-of-warranty items.

[triangle]

I took it out as a rider on my homeowners as well. It gives me peace of mind to know that my equipment is covered. The cost is minimal for the amount of $$$ I have tied up in equipment. I covered everything for less than $50/year.

[Vernon Theis]

My State Farm addendum to my homeowners is, I recall, $117 for $10k coverage. I don't think I'm less cautious now but I'm sure more comfortable schlepping my stuff all the places I want to go.

You can cover cameras, laptops, whatever.

Cheap for a huge measure of peace of mind.